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Critical Metals Corp. Secures $24.55M PIPE Financing Agreement - February 2025 Report

$CRML
Form 6-K
Filed on: 2025-02-10
Source
Critical Metals Corp. Secures $24.55M PIPE Financing Agreement - February 2025 Report

Here are the key pieces of information extracted from the financial report section:

Company Information

  • Name: Critical Metals Corp.
  • Address: c/o Maples Corporate Services (BVI) Limited, Kingston Chambers, PO Box 173, Road Town, Tortola, British Virgin Islands.
  • Commission File Number: 001-41973

Filing Details

  • Type: Form 6-K
  • Filing Date: February 10, 2025
  • Period Covered: Month of February 2025

PIPE Financing Agreement

  • Date of Agreement: February 6, 2025
  • Amount Raised: $24,550,000 through the sale of 4,910,000 ordinary shares and 4,910,000 warrants.
  • Price per Unit: $5.00 (1 share + 1 warrant).
  • Warrant Details:
  • Exercise Price: $7.00 per share
  • Expiration Date: February 7, 2029

Restrictions and Commitments

  • Post-Closing Restrictions: The company is restricted from issuing additional ordinary shares or filing certain registration statements with the SEC for 90 days after the closing date, with some exceptions.
  • Registration Rights Agreement: The company must file a registration statement for resale of the shares and warrants within 45 days of the closing date and use best efforts to have it effective within 60 days.

Additional Agreements

  • The company agreed to amend certain anti-dilution provisions related to senior convertible notes.

Forward-Looking Statements

  • The report contains forward-looking statements regarding the company's financial position, performance, and future operations, which are subject to risks and uncertainties.

Exhibit Index

  • The report includes references to specific exhibits that contain detailed agreements related to the securities purchase, registration rights, and warrants.

Signatory

  • Name: Tony Sage
  • Title: Chief Executive Officer and Executive Chairman

Caution

  • The document emphasizes that it does not constitute an offer to sell or solicit offers to buy any securities.

This summary highlights the main points of the financial report, focusing on the PIPE financing arrangement and related commitments, which are critical for understanding the company's current financial strategy and market position.